SAN FRANCISCO -- Targacept Inc.'s expanded partnership with AstraZeneca PLC was chosen as a finalist for the 2010 Breakthrough Alliance Award by Deloitte Recap.
In December, Targacept signed a potential $1.24 billion licensing agreement with AstraZeneca for treating depression.
The winners of the award were Sanofi-aventis, a pharmaceutical company, and Exelixis, a biotechnology company, for their potential $1 billion deal involving worldwide exclusive licenses for two early-stage cancer treatments and a stake in the development of PI3K inhibitor programs.
Some common elements to the deals include large upfront cash and/or equity payments; shared costs limits; clear allocation of decision-making power; and shared commercial
rights. -- Richard Craver
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